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Mon, Sep 25, 2017 | Last Updated 8:48 pm IST

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Bank accounts to be linked with AADHAAR is Mandatory

Bank accounts to be linked with AADHAAR is Mandatory
Bank accounts to be linked with AADHAAR is Mandatory
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As per report from sources it was stated that the Union government had on Friday announced that all bank accounts should be linked with Aadhaar card number by end of this year that is on 31st December 2017. It was stated that if the existing bank accounts are not linked with Aadhaar before the mentioned date, those accounts will become invalid and in-operational from 1st January 2018.



Further Narendra Modi led government had issued a notification amending the Prevention of Money Laundering Rules, 2005, to submit Aadhaar along with PAN or Form 60, if an individual or company is making a financial transaction above Rs 50,000 which is effective from June 1st.

Bank accounts to be linked with AADHAAR is Mandatory

The Revenue department of India added that small account will be scrutinized when there is suspicion of money dealings and other high risk scenarios. This will reduce the use of fraudulent practices in all the banks and the order was made yesterday to the people of the country.


Bank accounts to be linked with AADHAAR is Mandatory
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